ETH fell to as low as $950 this June 13, which is the proof that the whale sold its ETH possessions. Indeed, the economic situation is in red zone and the complete crypto market cap is under 1 trillion. This free fall is crazy however anticipated. ETH is additionally impacted however everyone love ETH, and will hold until better times comes.
IMO Ethereum can go much lower and nevertheless stay trustful crypto asset as volatility is a natural feature of any crypto project nowadays and would be so for some time more. And as for single crypto assets any can be manipulated by whales as even bitcoin does still not have big enough market cap to not to be manipulated.